EWK Inc. announced that it expects to receive KRW 29.9999999 billion in funding from EWK Holdings Co., Ltd. and other invetsors
August 02, 2020
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EWK Inc. (KOSDAQ:A258610) announced that it will receive KRW 20,000,000,000 in a round of funding on August 3, 2020. The company will issue series 3 non-guaranteed private convertible bonds, and 2,739,726 common share at a price of KRW 3,650 each at a discount at 10% for total gross proceeds KRW 9,999,999,900 through third party allocation. The date of new shares October 05, 2020. The transaction included participation from Broad Summit Partners for 2,739,726 share. The company has 11,734,799 common shares before in the transaction. The transaction will include participation from Cambridge First Union for KRW 10,000,000,000 and Renaissance 1st Union for KRW 10,000,000,000. The bonds bear a fixed coupon rate of 3% and will expire on September 25, 2023. The company are fully convertible into 4,449,388 common shares from September 26, 2021 to August 25, 2023 at a fixed conversion price of KRW 4,495 per share. The subscription date of the bonds if August 3, 2020. The company expects to close the transaction on September 25, 2020. The transaction was approved by the board of directors of the company.
Caelum Co Ltd, formerly EWK Inc, is a Korea-based company principally engaged in the manufacture and sale of chemical and liquefied natural gas (LNG) facilities. The Company operates its business through three segments. The Chemical and LNG Facility Business segment is engaged in the manufacture and sale of heat exchangers, air cooled condensers, pressure vessels and others. The Geothermal Power Plant Business segment is engaged in the manufacture and sale of condensers, piping spools, separators and others. The Product Business segment is engaged in the distribution of products within domestic market to overseas markets.
CAELUM CO., LTD. 
